Gold prices hit lifetime high of Rs 41,730 per 10 gm, zooms Rs 720


PTI, Jan 6, 2020, 5:03 PM IST

New Delhi: Gold prices in the national capital hit an all-time high on Monday and zoomed Rs 720 to Rs 41,730 per 10 gram following a pick-up in safe-haven demand for the metal amid weak equities and bullish global trends, according to HDFC Securities.

Silver also witnessed increased buying as it surged Rs 1,105 to Rs 49,430 per kg from Rs 48,325 per kg in the previous trade.

Gold had in the previous trade closed at Rs 41,010 per 10 gram.

“Safe-haven demand continued in the precious metal with word of war between the US and Iran. Along with a weaker rupee, rise in international gold prices supported domestic gold prices to trade at life-time high level,” Devarsh Vakil, Head (PCG-Advisory), HDFC Securities, said.

In the global market, gold traded with gains at USD 1,575 per ounce and, likewise, silver also quoted higher at USD 18.34 per ounce.

International gold prices at COMEX climbed as much as 2.3 per cent to USD 1,588.13 an ounce, the highest level since April 2013, and traded at USD 1,575 an ounce. Along with the other Asian currencies, the rupee traded with a loss of 25 paise amid higher crude oil prices.

In the morning trade, the rupee depreciated 31 paise to 72.11 weighed by the spike in crude oil prices, amid rising concerns over US-Iran tensions.

The Sensex crashed nearly 788 points on Monday as heightened tensions in the Middle East kept investors on edge.

The domestic market witnessed intense sell-off in line with global stocks after US President Donald Trump warned Iran of major retaliation if Tehran carries out any attack against America to avenge the killing of top military commander Qassem Soleimani.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Delhi court stays defamation case against CM Atishi

Awards don’t create value for independent films in India: Manoj Bajpayee

Public Alert: Cyber fraudsters impersonating traffic police to demand fines

UP: 25 people booked for attacking civic officials for encroachment removal

SC transfers cheating case against choreographer Remo D’Souza to Delhi court

Fishing vessel collides with naval platform off Goa coast; 2 fishermen missing

Related Articles More

Sony India bags ACC media rights for eight years

Musk says X now top news app on App Store in India

Air India to offer integrated aircraft maintenance engineering programme

Markets stage sharp recovery; Sensex reclaims 79k level, Nifty surges 557.35 points

Baku climate talks: The ‘X’ factor that could determine future of Global South

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Satwik-Chirag enter semifinals, Lakshya loses to Antonsen in China Masters

BJP stages protest against Congress govt in Karnataka over Waqf properties row

Loyalty Remembered: Mangaluru Airport’s K9 hero Jack passes away

Waqf issue: BJP stages Namma Bhoomi Namma Hakku protest in Bengaluru

Bomb disposal squad tackles ‘security incident’ at UK’s Gatwick Airport

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.